Worldwide Smart Cities Market Analyzed in New In-Demand Report Published at MarketPublishers.com

14 May 2012 • by Natalie Aster

LONDON – Globally, there are some 700 cities, each with a population exceeding 500,000 and are growing faster than the average growth rate of cities. Current trends show that in the next 20 years, urban population will cross a 5 billion mark. As cities grow and expand their services, management and governance become increasingly complex. Thus transformation of the cities is needed to address the social, economic, engineering, and environment challenges.

Forecasts say the global smart cities market will reach more than USD 1 trillion in value by 2016, at a CAGR of 14.2%. Smart energy or energy management market is forecast to be the fastest growing sector with an impressive CAGR of 28.7%, growing to USD 80.7 billion by 2016.

New research report “Smart Cities Market (2011 - 2016) Projects, Advanced Technologies, Adoptions & Transformations - Worldwide Market Report” prepared by MarketsandMarkets offers a comprehensive guide to the smart citiesmarket and its key segments from a global perspective, with a focus on the main geographies – North America, Europe, and APAC. Associated market for different technologies and their applications is also covered. The study presents market data, market drivers, trends and opportunities, as well as draws the competitive landscape of the smart cities market, providing in-depth comparative analysis of the technological and marketing strategies that the top players are adopting in order to gain an edge over their competitors.